Common use of Remedies; Obtaining the Assignment Collateral Upon Default Clause in Contracts

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the Credit Agreement and any applicable Requirement of Law then in effect, the Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the Grantor's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the Grantor; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the Administrative Agent for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (c) apply all monies, securities and instruments in the Revenue Account, and each other Account, in accordance with the Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor in writing to deliver the same to the Administrative Agent at any place or places designated by the Administrative Agent, in which event the Grantor shall at its own expense:

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor OPNY Borrower agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the OPMW Credit Agreement and any applicable Requirement of Law then in effect, the OPMW Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the OPMW Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor OPNY Borrower or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the GrantorOPNY Borrower's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the GrantorOPNY Borrower; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the OPMW Administrative Agent for deposit in the OPMW Revenue Account (or any other account required or contemplated by the OPMW Deposit Account Agreement) and application pursuant to the OPMW Deposit Account Agreement; and (c) apply all monies, securities and instruments in the OPMW Revenue Account, and each other Account, in accordance with the OPMW Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor OPNY Borrower to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, thereof and take possession of the proceeds of any such sale or liquidation for deposit in the OPMW Revenue Account (or any other account required or contemplated by the OPMW Deposit Account Agreement) and application pursuant to the OPMW Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor OPNY Borrower in writing to deliver the same to the OPMW Administrative Agent at any place or places designated by the OPMW Administrative Agent, in which event the Grantor OPNY Borrower shall at its own expense: (i) promptly cause the same to be moved to the place or places so designated by the OPMW Administrative Agent and there delivered to the OPMW Administrative Agent, (ii) store and keep any Assignment Collateral so delivered to the OPMW Administrative Agent (to the extent not physically delivered to the OPMW Administrative Agent) at such place or places pending further action by the OPMW Administrative Agent as provided in Section 7.02, and (iii) while such Assignment Collateral shall be so stored and kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition; it being understood that the OPNY Borrower's obligation to so deliver the Assignment Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the OPMW Administrative Agent shall be entitled to a decree requiring specific performance by the OPNY Borrower of such obligation.

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the Credit Agreement and any applicable Requirement of Law then in effect, the Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC Uniform Commercial Code or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the Grantor's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the Grantor; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including including, without limitation, any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the Administrative Agent for deposit in the Revenue Account (or any other 17 365 account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (c) apply all monies, securities and instruments in the Revenue Account, and each other Account, in accordance with the Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor in writing to deliver the same to the Administrative Agent at any place or places designated by the Administrative Agent, in which event the Grantor shall at its own expense:

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor Borrower agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the Credit Agreement and any applicable Requirement of Law then in effect, the Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor Borrower or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the GrantorBorrower's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the GrantorBorrower; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the Administrative Agent for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (c) apply all monies, securities and instruments in the Revenue Account, and each other Account, in accordance with the Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor Borrower to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor Borrower in writing to deliver the same to the Administrative Agent at any place or places designated by the Administrative AgentAgent as may be commercially reasonable, in which event the Grantor Borrower shall at its own expense: (i) forthwith cause the same to be moved to the place or places so designated by the Administrative Agent and there delivered to the Administrative Agent, (ii) store and keep any Assignment Collateral so delivered to the Administrative Agent (to the extent not physically delivered to the Administrative Agent) at such place or places pending further action by the Administrative Agent as provided in Section 7.02, and (iii) while such Assignment Collateral shall be so stored and kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition; it being understood that the Borrower's obligation to so deliver the Assignment Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Administrative Agent shall be entitled to a decree requiring specific performance by the Borrower of such obligation.

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor Borrower agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the Credit Agreement and any applicable Requirement of Law then in effect, the Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor Borrower or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the GrantorBorrower's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the GrantorBorrower; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the Administrative Agent for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (c) apply all monies, securities and instruments in the Revenue Account, and each other Account, in accordance with the Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor Borrower to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor Borrower in writing to deliver the same to the Administrative Agent at any place or places designated by the Administrative AgentAgent as may be commercially reasonable, in which event the Grantor Borrower shall at its own expense: (i) promptly cause the same to be moved to the place or places so designated by the Administrative Agent and there delivered to the Administrative Agent, (ii) store and keep any Assignment Collateral so delivered to the Administrative Agent (to the extent not physically delivered to the Administrative Agent) at such place or places pending further action by the Administrative Agent as provided in Section 7.02, and (iii) while such Assignment Collateral shall be so stored and kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition; it being understood that the Borrower's obligation to so deliver the Assignment Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Administrative Agent shall be entitled to a decree requiring specific performance by the Borrower of such obligation.

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the OPMW Credit Agreement and any applicable Requirement of Law then in effect, the OPMW Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the OPMW Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the Grantor's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the Grantor; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the OPMW Administrative Agent for deposit in the OPMW Revenue Account (or any other account required or contemplated by the OPMW Deposit Account Agreement) and application pursuant to the OPMW Deposit Account Agreement; and (c) apply all monies, securities and instruments in the OPMW Revenue Account, and each other Account, in accordance with the OPMW Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation for deposit in the OPMW Revenue Account (or any other account required or contemplated by the OPMW Deposit Account Agreement) and application pursuant to the OPMW Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor in writing to deliver the same to the Administrative Agent at any place or places designated by the OPMW Administrative Agent, in which event the Grantor shall at its own expense:

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor OPMW Borrower agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the OPNY Credit Agreement and any applicable Requirement of Law then in effect, the OPNY Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the OPNY Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor OPMW Borrower or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the GrantorOPMW Borrower's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the GrantorOPMW Borrower; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the OPNY Administrative Agent for deposit in the OPNY Revenue Account (or any other account required or contemplated by the OPNY Deposit Account Agreement) and application pursuant to the OPNY Deposit Account Agreement; and (c) apply all monies, securities and instruments in the OPNY Revenue Account, and each other Account, in accordance with the OPNY Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor OPMW Borrower to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, thereof and take possession of the proceeds of any such sale or liquidation for deposit in the OPNY Revenue Account (or any other account required or contemplated by the OPNY Deposit Account Agreement) and application pursuant to the OPNY Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor OPMW Borrower in writing to deliver the same to the OPNY Administrative Agent at any place or places designated by the OPNY Administrative Agent, in which event the Grantor OPMW Borrower shall at its own expense: (i) promptly cause the same to be moved to the place or places so designated by the OPNY Administrative Agent and there delivered to the OPNY Administrative Agent, (ii) store and keep any Assignment Collateral so delivered to the OPNY Administrative Agent (to the extent not physically delivered to the OPNY Administrative Agent) at such place or places pending further action by the OPNY Administrative Agent as provided in Section 7.02, and (iii) while such Assignment Collateral shall be so stored and kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition; it being understood that the OPMW Borrower's obligation to so deliver the Assignment Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the OPNY Administrative Agent shall be entitled to a decree requiring specific performance by the OPMW Borrower of such obligation.

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the Credit Agreement and any applicable Requirement of Law then in effect, the OPNY Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the Grantor's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the Grantor; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the OPNY Administrative Agent for deposit in the OPNY Revenue Account (or any other account required or contemplated by the OPNY Deposit Account Agreement) and application pursuant to the OPNY Deposit Account Agreement; and (c) apply all monies, securities and instruments in the OPNY Revenue Account, and each other Account, in accordance with the OPNY Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor in writing to deliver the same to the OPNY Administrative Agent at any place or places designated by the OPNY Administrative Agent, in which event the Grantor shall at its own expense:

Remedies; Obtaining the Assignment Collateral Upon Default. The Grantor Borrower agrees that, if any Event of Default shall have occurred and be continuing (and shall not have been waived by an appropriate vote or other action by the Required Lenders), then and in every such case, subject to the terms and provisions of the Credit Agreement and any applicable Requirement of Law then in effect, the Administrative Agent, in addition to any rights now or hereafter existing under any applicable Requirement of Law, shall have all rights as a secured creditor under the UCC Uniform Commercial Code or any other applicable Requirement of Law in all relevant jurisdictions and may, acting pursuant to and in accordance with the terms of the Credit Agreement: (a) personally, or by agents or attorneys, immediately retake possession of the Assignment Collateral or any part thereof, from the Grantor Borrower or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon the GrantorBorrower's premises where any of the Assignment Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of the GrantorBorrower; and (b) instruct the obligor or obligors on any agreement, instrument or other obligation (including including, without limitation, any other Assigned Agreement, the General Intangibles and the Receivables) constituting the Assignment Revenues and Assignment Collateral to make any payment required by the terms of such instrument or agreement directly to the Administrative Agent for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (c) apply all monies, securities and instruments in the Revenue Account, and each other Account, in accordance with the Deposit Account Agreement; and (d) sell, assign or otherwise liquidate, or direct the Grantor Borrower to sell, assign or otherwise liquidate, any or all of the Assignment Collateral or any part thereof, and take possession of the proceeds of any such sale or liquidation for deposit in the Revenue Account (or any other account required or contemplated by the Deposit Account Agreement) and application pursuant to the Deposit Account Agreement; and (e) take possession of the Assignment Collateral or any part thereof, by directing the Grantor Borrower in writing to deliver the same to the Administrative Agent at any place or places designated by the Administrative Agent, in which event the Grantor Borrower shall at its own expense: (i) forthwith cause the same to be moved to the place or places so designated by the Administrative Agent and there delivered to the Admixxxxxxxxxx Xxxxx, (xx) xxore and keep any Assignment Collateral so delivered to the Administrative Agent (to the extent not physically delivered to the Administrative Agent) at such place or places pending further action by the Administrative Agent as provided in Section 7.02, and (iii) while such Assignment Collateral shall be so stored and kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition; it being understood that the Borrower's obligation to so deliver the Assignment Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Administrative Agent shall be entitled to a decree requiring specific performance by the Borrower of such obligation.